Rich man says wealth inequality is beneficial...everyone else just laughs.

I stumbled across Michael Kinsey's critique of a NYT article on a book written by Mitt Romney's former Bain Capital partner, "Unintended Consequences: Why Everything You’ve Been Told About the Economy Is Wrong."  The gist of Ed Conard's book, is that extreme inequality is actually a great thing, because it will make everyone wealthy.

Kinsey, I suspect, tried to keep a  straight face when writing his critique, but Conard's proposition on its face, is utterly hilarious.   Kinsey suggests that, "Conard shares Rand’s special twist of portraying the successful businessman as a hero, the Alpha Male at his finest, and everybody else as mediocre deadbeats and leeches (my emphasis)."

I just about fell over laughing when I read that bit.

Of course, billionaire Conard is apparently lost on the irony that, with his wealth he's now retired at age 51.....and no longer an employer.  Or as I've lambasted conservatives before: extreme wealth is a job-creation fallacy, when in reality that wealth is simply removed from circulation, and prevented contributing to national GDP.

THAT is why we tax the rich more.  If they save it, they will reduce GDP potential.